The tokenized assets (RWA) market surged by 40%, reaching the $51 billion mark.
The tokenized real-world assets (RWA) sector is showing steady growth despite the overall correction in the cryptocurrency market. Since the beginning of the year, the capitalization of this segment has increased by 40%, reaching an impressive $51 billion. This confirms the growing interest of institutional and retail investors in digital representations of traditional assets.
The number of holders of tokenized assets over the same period grew by 60%, exceeding 917,000 unique addresses. Leaders in terms of assets under management remain the Figure platform with $18.9 billion and Securitize, which recorded $4.3 billion. These projects continue to dominate, offering the most regulated and liquid solutions.
Market Structure: Lending, Treasury Bonds, and Precious Metals
An analysis of asset distribution shows that the largest share of RWA is occupied by private lending — 47% of the total volume. In second place are tokenized US Treasury bonds (30%), followed by precious metals (9%). This structure reflects the conservative approach of investors who prefer instruments with low risk and high liquidity.
From a blockchain infrastructure perspective, the main activity is concentrated in two networks: Provenance, which accounts for 39% of all transactions, and Ethereum with 33%. Meanwhile, the tokenized equity segment showed the most impressive dynamics — growth of 130% over the past six months, reaching $1.6 billion. This indicates that investors are increasingly considering blockchain as an alternative to traditional stock exchanges.
Three Tokenization Models: From Hybrids to Full Ownership
The analysis identifies three key approaches to equity tokenization:
- Trading infrastructure. Brokers like Robinhood purchase shares and hold them as collateral for issued tokens. This enables 24/7 trading but does not provide the holder with voting rights — essentially, it is only a derivative instrument.
- Settlement layer. Blockchain replaces traditional accounting systems. Projects like Figure and Securitize create regulated stacks where investors receive full ownership rights to the underlying assets.
- Hybrid model. Coinbase offers an "exchange for everything," combining tokens for stocks, derivatives, and crypto assets for users outside the US, creating a single entry point.
Regulatory Certainty — Key to Future Growth
Further development of the sector directly depends on the position of the US Securities and Exchange Commission (SEC). The regulator has already approved pilot projects by NYSE and Nasdaq for trading tokenized securities. A key catalyst could be the so-called "innovation exemption," which would allow full-fledged trading of such assets within the US.
The monthly transaction volume in the tokenized equity segment reached $5.3 billion in June. For comparison, in September of last year, this figure was only $500 million. This dynamic indicates that the market is not just growing but undergoing a structural transformation.
My expert opinion: Growth of 130% in just six months in the equity segment is a signal that cannot be ignored. Traditional finance is gradually realizing that blockchain is not just a trendy fad but an effective tool for reducing costs and increasing transparency. If the SEC meets the industry halfway, we could see explosive growth in RWA capitalization to $100 billion as early as next year. However, for now, regulatory uncertainty remains the main brake.